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Gold & Silver DAILY NEWS

The gold and silver markets have rallied during the last three weeks, and despite brief hiccups in gold and silver prices, the prices of both metals are currently near six-week highs. As of 8am EST … Read More

Gold Silver Spot Price

Post by Janet Jones
on March 6, 2009

March 6, 2009 – The worsening state of the United States financial crisis is forcing investors to sell their unstable equities and begin investing in safe haven precious metals, thus increasing the gold and silver spot price today. United States unemployment is currently at 8.1%, which is the highest we’ve seen in 25 years, signalling over 3.6 million jobs lost since December 2007. Central banks on the other hand are going through all measures possible in order to prevent collapse that would signal the beginning of a second Great Depression. Investors are seriously concerned about the possible inflation that could result from the overprinting of fiat currency, and many are beginning to take preventative measures from the storm ahead by tracking the gold and silver spot price in order to enter at the appropriate time to maximize their investment potential. Hopefully, enough wise investors do this before things get increasingly worse.

Today the gold and silver spot price is being directly affected by the surge in safe haven buying that has brought gold to $938.70 per ounce, an increase of $6.30 or .68% for the trading day while silver also boosts up nine cents to around $13.33 per ounce. Both short and long-term projections for the metals are continuing to look more positive than ever as market analysts and financial institutions are out-looking one of the best years ever for precious metals due to a significantly higher demand for safe haven investments. Let’s see what surprises 2009 has in store for us.